usps

The cash-strapped U.S. Postal Service said Monday it is seeking to move quickly to close 252 mail processing centers and slow first-class delivery next spring, citing steadily declining mail volume. The cuts are part of $3 billion in reductions aimed at helping the agency avert bankruptcy next year.

Postmaster General Patrick Donahoe has announced his latest initiative to save the post office from bankruptcy. (Hint: Improving customer service isn't a part of it.) His master plan: Hike the cost of mailing a letter for real people, and cut prices for junk mail.

Could your bank teller could go postal? Offering basic consumer banking services in the form of prepaid debit cards is just one of many ideas the U.S. Post Office is considering to boost its bottom line. And even with stamp costs going up to 45 cents, the USPS is in dire need of outside-the-box solutions to its budget woes.

It'll cost a penny more to mail a letter next year. The cash-strapped U.S. Postal Service announced Tuesday that it will increase postage rates on Jan. 22, including a one-cent increase in the cost of first-class mail, to 45 cents.

If the USPS went into bankruptcy, would anyone care? Not according to former UPS board member Gary MacDougal, who argued in a scathing attack last week that "the rapid growth of email, online bill paying," and private parcel delivery firms like UPS and FedEx has made the Post Office obsolete. Statistics suggest he's right.

As the U.S. Postal Service works feverishly to close its budget gap, UPS is taking advantage of the turmoil to highlight how much more innovative its brown-clad couriers can be, compared to their blue-suited cousins.

The U.S. Postal Service warned that it will miss federal payments totaling an estimated $6.8 billion by October, unless the government steps in.

The U.S. Postal Service announced plans to hike postage rates on several different types of mail in April, but the cost of sending Mother's Day cards in May will stay the same. The postal service said the cost of a stamp for a basic letter will remain 44 cents, but the price to send larger...

The United States Postal Service is nosediving. In its last fiscal year, it lost $8.5 billion, which was $4.7 billion more than the year before. In an attempt to stem some of the losses, it's planning on hiking rates in April. With the use of postal mail dwindling, America's massive infrastructure...

It's another nail in the Postal Service's coffin. Magazines are ripping a page from newspaper tradition and are ditching the U.S. Mail and contracting with cheaper delivery services to hand-deliver their issues. The change further dents our national mail's bottom line. It's also bringing back the...